Done Deals: Premier retail and dining destination center in Miami sells for $216 million

Thursday, August 4, 2022

Premier retail and dining destination center in Miami sells for $216 million

Kim Flores

MIAMI, FL, Aug. 4, 2022 – JLL Capital Markets announced today that it has closed the $216 million sale of Mary Brickell Village, a 200,503-square-foot, Publix-anchored mixed-use retail center with an 875-space parking garage in Miami’s dynamic Brickell district.

JLL marketed the asset on behalf of the sellers, Rockpoint and Ivanhoe Cambridge. RPT Realty acquired the center.

Danny Finkle

The JLL Retail team representing the sellers was led by Senior Managing Directors and Co-Heads of U.S. Retail Capital Markets Danny Finkle and Chris Angelone, Executive Managing Director Matthew Lawton, Senior Director Eric Williams and Vice President Kim Flores.

“Mary Brickell Village is one of the most unique and well positioned retail properties in the country,” said Finkle.

“The Miami Brickell district has quickly evolved into one of the most dynamic and exciting places in South Florida, and this 5.2-acre parcel with a variety of best-in-class retailers and restaurants is in the absolute epicenter.”

Chris Angelone

Mary Brickell Village is anchored by a high-volume Publix and Miami’s only LA Fitness Signature Club.

The center is complemented by an exceptional roster of high-quality, leading retailers and popular restaurants, including Moxie’s, North Italia, P.F. Chang’s, Shake Shack, Blue Martini, Starbucks, Massage Envy, Candela Gastro Bar and EWM Realty.

Originally constructed in 2008, the property underwent substantial renovations and modernizations between 2018 and 2020.

Matthew Lawton

Positioned on a 5.2-acre site at 901 South Miami Ave., Mary Brickell Village is in an infill, transit-oriented location that sees incredibly high vehicle and pedestrian traffic.

This irreplaceable location is at the epicenter of the Brickell District and surrounded by excellent demand drivers, with 18.4 million square feet of office space, more than 147,000 daytime employees, over 6,600 hotel rooms and 76,000 residents all within 10 blocks.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.